More businesses are choosing to move to importing from China, and it is understandable. When you the right agent and supplier you could be making a big profit because compared to products made in the US, the costs are much lower. When thinking about how much does it take to import from China to USA, there are several considerations as well as just the price of the goods. Here is a look at what those are and also how payments to China can differ.
Importing costs you should be aware of
Some of the additional costs to import from China to US includes;
- Costs of transportation – The type of transportation you use to move the goods from China to the US will affect the cost. By air costs more and by sea is the most affordable.
- Inspection, warehousing and port of entry fees – There are a number of fees to pay along the way when importing goods. There will be an inspection when they cross into the US and sometimes those inspections end up costing money. There will also be warehousing charges, and port fees too. Depending on what you are bringing in, those fees can add up.
- Licensed customs broker costs – To make the process go better and have fewer mistakes and problems, you can hire a licensed customs broker. You will of course have to pay them so that is another cost, but it might save you money over the long term as they make sure fees are paid, you have the right permits and the imported goods pass inspection.
- Customs agent fees – When thinking about how much does it take to import from China to USA there are also fees to pay to the custom agents. This can happen upon arrival before your good have been moved into a warehouse.
- Cost of duties – One of the major costs in dealing with import from China are the import duties you have to pay. The tariffs depend on what you are importing. Usually when a product is of higher value the tariff on it is higher. If you are importing in large amounts, products that are high cost, you could see import duty tariffs reaching incredibly high. Large businesses face costs in the millions.
Preferred methods of payment
How you pay for your imported goods depends on a number of factors but it is not the same as paying a domestic supplier. The preferred payment methods are international wire transfers, letters of credit, an open account, cash advance and online escrow. Consider carefully the risk and benefits of each option.
When you are looking to import from China to US and you want to look at what the costs will be, consider talking to the customs clearance agents who have experience and are licensed. They can look at the different factors that affect the cost, all the different fees and help fill in paperwork so you can keep costs as low as possible.
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